A recent press release from iGaming Business has announced a new report forecasting the rise and expansion of the online casino industry. It is believed that much of this growth will stem from all the wireless platforms that are currently being developed for wireless gaming as an alternative way to gamble. This type of gambling will enable casinos to go in at any time and know exactly how many people are playing on their wireless devices, what their win per day and per hour etc. is. This will give the casinos much more information at their fingertips to furnish what the players need and want.
According to the Global Business of Online Casinos, the report states that the online casino market will grow $4.7 billion globally in gross gaming yield which is an increase of nearly 79% from 2009. By the end of the year 2012 the market will rise to $5.8 billion and to $7.1 billion by the end of 2014.
In addition to gross gaming yield projections, The Global Business of Online Casinos tracks recent trends and strategies of successful online casino operators. The cost for starting up an online casino, for example, is considerably less than what it costs to start up a land-based casino. While online casino start-ups cost an average of $1.5 million, a land-based casino costs $300 to set up and keep operational. Therefore, the online casinos make a fast jump into the green of profitabilty. considerably quicker than its land-based competition.
Rachael Church-Sanders, the author of The Global Business of Online Casinos says: "Add to that the growth in social networking, mobile apps and micro transactions and times that by the growing number of people globally with broadband connections and wireless access, the future certainly looks rosy for online casinos."
It is also suggested that those casinos that provide a wide variety of games will be the ones to thrive in the future of online gaming. In order to compete in the future, online casino operators will need to attract and retain paying customers who are increasingly getting younger and/or from the growing pool of non-core gaming players.
One thing is for certain, as the future of online casinos unfolds, what is to come won't be much of a surprise with the growing body of evidence supporting the growth to come. The crystal ball has already spoken.
29 July, 2010